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Texans select Jadeveon Clowney with No
10. As a Texan he'll be reunited with new strength and conditioning coach Craig Fitzgerald, who was at South Carolina in http://www.texansnflofficialauthentic.com/authentic-cj-fiedorowicz-jersey.html 2011 before moving to Penn State to work for Bill O'Brien. As a Texan he'll be reunited with new strength and conditioning coach Craig Fitzgerald, who was at South Carolina in 2011 before moving to Penn State to work for Bill O'Brien.
There in the green room at Radio City Music Hall, he wasn't thinking about proving his critics wrong after his difficult final season at South Carolina. He thought about bigger struggles. And he thought about his mom, exchanging an emotional hug with her.
"My mom sacrificed so much for me, and to be http://www.texansnflofficialauthentic.com/authentic-jadeveon-clowney-jersey.html drafted first by the Texans is a dream come true," said Clowney, a defensive star in college who will start at linebacker for the Texans. "We slept in a one bedroom house, and I'm going to buy her anything she wants, starting with the biggest house she wants.
"I've been dreaming about this my whole life. I'm so excited to be drafted by the Texans. I can't wait to get to H town. A lot of people have doubted me. I've been proving people wrong throughout my life. A lot of people said I wouldn't be anything growing up, and now look at me."
The Texans considered trading the top pick but didn't get an offer good enough to convince them to surrender a prospect as talented as Clowney, viewed by scouts as a once in a generation pass rusher.
"We always felt very confident in the selection, so we were very bullish in what we were asking for," general manager Rick Smith said.
The Texans chose Clowney over Buffalo outside linebacker Khalil Mack and quarterbacks Blake Bortles and Johnny Manziel, who, after a longer than expected wait, was taken at No. 22 overall by Cleveland. Watt in passing situations was too enticing for the Texans to pass up.
"I set my expectations high, higher than what anybody expects me to do," Clowney said. "I know the media's going to ride me because I was the No. 1 pick, but I'll deal with it.
"I want to learn. I want to be great. I'm going to have my ups and downs. and was the highest recruited high school player in the country. www.texansnflofficialauthentic.com/authentic-cj-fiedorowicz-jersey.html He excelled as a freshman and sophomore at South Carolina and entered the draft after a disappointing junior year, when he had just three sacks.
Smith and coach Bill O'Brien said they scouted Clowney thoroughly and weren't concerned about his performance last season. Clowney appreciates their confidence in him.
"Even though I kept hearing about Houston taking me No. 1, and I kept hoping they would, I was still shocked when they called my name," Jadeveon Clowney L Jersey he said. "I felt so overwhelmed and relieved and humble.
"It's just a blessing, the greatest feeling in the world to know they have that kind of confidence in me."
When the Texans hosted Clowney at Reliant Stadium two weeks ago, he made a promise to O'Brien.
During his two day visit, Clowney was taken to dinner by Smith and the defensive coaches and treated to a Rockets playoff game. Before he returned to South Carolina, Clowney met with O'Brien one last time.
"He was like, 'Dude, I'm going to take a chance on you,' Clowney said. "I'm going to be in your hip pocket. You and me are going to be like this."
Clowney held up two fingers to show what O'Brien meant that he would be watching and riding Clowney to bring out the best in him.
"I told him, 'I'm ready, man. I won't let you down," Clowney said. "And I won't.
"I can't wait to get to H town and start to learn their system."
Clowney is ideally suited to play right end in a 4 3 scheme. He's not a right end in a two gap 3 4 scheme.
In new defensive coordinator Romeo Crennel's base 3 4, he'll have to stand up and play outside linebacker, then drop down and put his hand in the dirt in passing situations.
"Everyone knows I'm great at pass rushing," Clowney said. "I know I'm going to have to drop (into pass coverage) into the flat, which I think I can do very well.
"I've been working at it since everybody starting saying Houston was going to take me."
Clowney can't wait to work with Watt, the current face of the Texans and the 2012 NFL defensive player of the year.
Keywords: Texans select Jadeveon Clowney with
Presents at 2013 Consumer Retail Conference
Robert F. Ohmes BofA Merrill Lynch, Research Division
Okay, we're going to get started. Very pleased to have management from Under Armour here today, including Brad Dickerson, the CFO; Authentic Bashaud Breeland Jersey and Tom Shaw from IR. And with that, I'm going to turn it over to Brad for some comments before Q Dickerson
Thanks, Robbie. Great to be back here at the Bank of America Consumer Retail Conference. I'm Brad Dickerson, the CFO of Under Armour. And the usual Safe Harbor language. There's lot going on with our company since we spoke here a year ago, and to fully get into it, the details of it, let's start the way we always do, showing our brand in action with many of our athletes and who our part of our brand. So let's get the heart pumping a little bit here with what we call, the voice of our brand.
Great. Everybody awake? So we've been at this for 17 years now. Fundamental mission has not changed, to make all athletes better. This was the genesis of the brand from the original compression shirt back when we started, and it continues today with our most recent innovations, Spine, Armour39, and this fall's ColdGear infrared, all of which we'll speak about in a little more detail later on.
Our 5 growth drivers have been a consistent message since we went public back in 2005: Men's apparel, Women's apparel, footwear, Direct to Consumer and international. Apparel and Direct to Consumer have been the big driver in recent years, including growth of 23% and 34%, respectively, in 2012. Footwear is on the cusp but is expected to drive more dollar growth the next couple of years. And we are laying the foundation in international and believe the opportunities are significant beyond 2015.
These multiple growth levers give us confidence on our long term growth goal of 20%, 25% per year. Before we get to the detail of each of these growth drivers, let's first speak about innovation, which is a big driver of all the product categories for us.
We started with a simple message, wear HeatGear when it's hot, ColdGear when it's cold.
Our brand created today's $3 billion plus synthetic apparel market in the United States. The product has evolved. Compression during our IPO year of 2005 represents 64% of our apparel mix. Today, it's down to just 14%. In conjunction with evolving our fit profile for all athletes, we Bashaud Breeland Womens Jersey have ramped our efforts in innovation. In 2011, we launched Charged Cotton and Storm, a combined $65 million in business for us in 2011.
In 2012, we expanded those platforms, including Storm across our Armour Fleece line, and we launched new innovation like Spine and ColdBlack.
In 2013, Charged Cotton and Storm will approach $200 million each, and we're also debuting several new product categories like Armour39 and ColdGear Infrared. Let me start with Armour39, which is in the presale right now and will be officially available next month. This is our performance monitoring system that allows athletes, all sports, to measure, track and analyze the data that matters most. 4 unique measures: heart rate, calories, intensity and our proprietary measure of willpower. So I have a video here which real quick will talk about our Armour39 product.
Our big innovation Morgan Moses Jersey story for the back half of this year is ColdGear Infrared, inspired by the stealth bomber in its use of ceramic. The technology is designed to keep athletes warmer longer. We use a ceramic infused ink that is applied to the product much like a graphic T shirt would be would work. The added properties allow generated heat to be transferred throughout the product and stored much like a cup of coffee to some degree. Importantly, this innovation does not add weight to the product, does not sacrifice moisture management or how the impact how the fabric feels on the body. Here's another quick video on ColdGear Infrared.
So innovation will flow through our growth drivers and will be a key to our success in 2013 and beyond. So let's look at some of our growth drivers we talked about at the beginning of the presentation. First, our Men's apparel business. Key focus this year is on injecting newness across our platforms. Our product HeatGear Sonic is coming out, enhanced design, lightweight, better performance than our current products out there. Also leveraging some of our marketing platforms like the NFL Combine to get some of our innovation stories out there like Armour39, and obviously, bringing an inclusive line of product to our athletes. In some of our retail channels and at Dick's Sporting Goods, we have a retail exclusive with a lot of our NFL Combine product, for instance. On the Women's side of our business, it was 20% of our apparel business back in 2005, Women's. Today, it's approaching 30% of our apparel business, and obviously, an overall growing business in the company. Growth despite headwinds.
If you think about our brand over the last few years, 5, 6 years ago, we still had a lot of men designing women's product in our building. Happy to say now, we only have women designing women's product in our building. Also, a big cultural change over the last few years. With performance, it was always kind of the focus of our brand in total, and then everything was about performance. But sometimes, we ignored how things how they looked, the fit, the design of the product at the expense of performance. So in the last couple of years, a lot more focus on not just performance, our product must perform, it's the nucleus of our brand, is performance, but a lot more focus on the balance of design and fit and patterns and how it looks, especially in our Women's business, it's really important. Distribution challenge is relative, too. We've been very focused on sporting goods, which has been a very powerful driver for us, but the knowledge that and that's not the only place she shops for performance athletic wear. So places like department stores and mall and our own Direct to Consumer is a way to get to a consumer we couldn't get to in the past would be really, really important. We also added some executive creative director leadership. This year, Leanne Fremar comes from 10 years at Theory and will be opening up a design center here in New York City. The idea around this, not just on the Women's side of the business, though that's what the focus will be, but our overall business is to go where the design talent is. So a barrier for our company in the past has been the idea of trying to move people from New York City or Los Angeles to Baltimore. People want to come work for Under Armour, but they don't want to move to some degree. So this removes that barrier to some degree, where now we can go to where the talent is, and New York City has some of the best design talent in the world. It removes that barrier, it enables us to get that talent in house and utilize that talent. So Leanne will be running this office up here in New York, get the best talent and continue to drive our Women's business will be really important for us. footwear market at retail. And as you can see in this chart, we play mostly on the right hand side of this chart from running through cleated. We really started our business on the cleated side. It started with football cleats and baseball cleats about 7 years ago. And we're currently now take about 30% market share in those categories. However, we look at cleated up here at $1.4 billion. The area we really play in the most is football and baseball cleats, which is about $500 million at retail. So a fairly small market, even though we have a Morgan Moses Womens Jersey 30% market share in it. The real category here from a volume perspective and also from a gross margin perspective is running at close to $7 billion. Also basketball, too. Those are categories that we've entered over the last 3 or 4 years and are just getting into. And obviously, the ability for us to grow footwear from a volume perspective and also from a margin perspective will be really important on how we approach running especially running, but also basketball.
An example of what we're doing on the running side is our Spine product that came out last year. And the idea around here is, obviously, to differentiate ourselves from some of the competition out there. And a lot of the stories in running over the last couple of years had been lightweight. Everything is about more and more lightweight, and sometimes, our designers looked and said that sometimes came at the expense of structure and form to the shoe. And the fact of the matter is, Under Armour in our evolution right now, we're trying to sell footwear to our existing core consumer, that athlete who uses running or training as a part of their job to get ready to play on field. So we're not really necessarily trying to sell to marathon runner, although we will make shoes that they can participate with our brand. Our real focus right now is that kind of athlete. So we thought from the perspective of going after that athlete that lightweight's going to be important to that athlete also, so we have to make a lightweight shoe, but they also do want some structure and support. So what Spine did was just that. It combines both of them. It's less than 10 ounce product, but also has the right amount of structure, the underneath of the shoe, the cage that gives kind of some support and structure to the shoe. So lightweight with support was important to our consumer, and that was what we've done over the last year as relative to footwear with our Spine product, which we will obviously be carrying forward in the future years. We're also taking Spine and leveraging this technology and idea across other categories in our business like slides and cleated footwear also. So we've spoken about Men's apparel, Women's apparel and footwear, our 3 product growth categories. Now let's talk about one way we get to that end consumer, in our Direct to Consumer business.
Currently consist of 101 outlet stores and 5 specialty stores, and obviously, our e commerce business also. Still very narrowly distributed across the country. We've been a sporting goods brand, so the ability for us to get to our consumer has been very difficult in some parts of the country, in areas like metropolitan areas also. It's been very, very difficult to get to that consumer because we've been focused on sporting goods. So as we expand our distribution into places like department stores and malls, that will help, but Direct to Consumer will absolutely, positively be a way for us to get to a consumer that we can't get to today and it will not be at the expense of our existing distribution. 29% of our business in 2012 was our Direct to Consumer business, up from 27% in 2011 and 23% in 2010. On the e commerce side, we continue to make investments and build out our talent, and we'll start using data warehouse tools to segment and target consumers in 2013 in a much more efficient and better way. More personalization, more targeting consumer groups using e mail, social media, spending platforms to help drive our e commerce business going forward.
A little more on the outlet side. Here's a footprint obviously, you can't see the details of this footprint, but I think what it will show to you is that we're still heavily weighted towards the eastern part of the United States. So a lot of ability even on our outlet channel on geographically can do some more stores in the west side of the country. We do have the blue here indicating some of the new doors that we plan on opening up in the near future. We've talked about opening up 10 stores in 2013 on top of the 101 we have today. The big story, I think, going forward on the outlet side is going to be square footage growth. So we've always said we see ourselves in about 125 to 130 outlet centers. So we'll be at about 110 to 111 at the end of this year. We will consistently sprinkle in new doors over the next few years as good real estate opens up in those existing 30 doors that we're not in today, 30 centers we're not in today. But the real opportunity here is that we grow our brand, Women's continues to grow, footwear continues to grow, our overall brand continues to grow. It's the ability for us to upsize existing stores. There'll be more of a square footage gain for us as we start getting out in the next couple of years, where square footage would be the big growth driver in outlet. Right now, our model is about 101 stores, 5,200 square feet average. I think as we look towards 2020, I think we look and say probably more like 130 doors or so and probably more of an 8,000 to 9,000 square foot average. So more than doubling our business in the next 6 or 7 years in outlet and growing with our brand. Again, more space for Women's, more space for footwear, more space for our overall growing brand.
On the specialty side, reinvigorating a task that we started a few years back. We have 4 specialty mall doors today, we have a mountain door in Colorado and we're opening up a new store in Baltimore. We opened it up 3 weeks ago, a specialty store, 8,000 square feet, in the Inner Harbor of Baltimore, a great prime location where the shopping district, new shopping district in Baltimore is. Great opportunity for us to reinvigorate this test of specialty retail. The goal of specialty retail, again, is not to cannibalize existing distribution. It's to open up distribution where that consumer can't get to us today. We have known that Metropolitan areas are a prime example of a gap in distribution for us. We're having a hard time getting to him and her in cities. Think of New York City, and think of Manhattan as an example. Walk down the streets of Manhattan, try to find our brand, first of all; and second of all, try to find a really great representation of our brand. It's really, really challenging in the existing real estate in New York City. So this is a way for us to learn how to be a better retailer, which should absolutely make us be a better wholesaler, and it learns how to fill in distribution gaps and how this consumer is different than maybe a sporting goods consumer, how to learn that over time. The good news about being in Baltimore, our hometown, is there's no excuse for our product people, our design people, our creative people to be in the store consistently every single week. Talk to the consumer, learn from the consumer. This should help our overall business, not just our specialty business. Let's take a quick look now at the inside of the store and the design. This will be consistent with how we open up a few sprinkle in a few more test stores over the next 18 to 24 months as we continue to test how to be a retailer, how to allocate product, different geographic regions and so forth. So let's just take a look at the idea we have here and how the store looks. And imagine, again, if you've walked and looked at Under Armour at retail in the past, how this can be a little bit different from that perspective. So first off, garage door swings open every morning for the store. And it's like I said, on the prime harbor, Harbor East waterfront location in the shopping district of Baltimore. First thing on entering the store is you'll see our new Armour39 technology. Main focus of the store is on footwear. Chairs inspired by Major League Baseball locker room, accessible from all sides. On the Men's side, you'll see many mannequins teaching athletes how to dress from top to bottom. There are 75 mannequins in the store in total. Another shot of the footwear area, plasma screen that displays videos, events in the area. We used to show new marketing campaigns we have. Women's, each mannequin designed to tell a story. The clothes are purposely placed immediately behind the mannequin for accessibility and simplicity. And the bottom floor highlights our studio line.
So we'll be looking to add another store by the end of this year and a handful of stores over the course of the next 18 to 24 months to continue to test this model, and again, use this as a point of filling in distribution gaps down the road.
Our last growth driver, international. We've been talking about international being a foundation building business for us. And that has been the case. We're actually in a little over 60 countries around the globe right now, but still very, very small part of our business, 6% of revenue in 2012. Now the good news is we have seeded product. We have built some foundation in some key markets like Europe, Latin America and Asia in countries like Japan and China. But more important pieces where we're going, going forward. So the first piece of our business, international, really is Japan. It's our first international entry, was back in 1999 with a licensee called Dome Corporation. wholesale in Japan. We get a royalty stream off these revenues that they have. wholesale in Japan. So about a $400 million retail business in Japan. They grew 30% last year. So been a lot of great things, great front end company, marketing sales, product, done a really good job growing this business in Japan. They look a lot like we looked at $200 million. So you think about opportunity just in this market, heavily weighted towards Men's as far as assortment goes. Compression is still a much bigger part of their business versus where we are today in more versatility of product. A lot like we look. So there's a lot of opportunity for that business going forward in Japan specifically, our first entry into international.
Europe, we've been in over the last 7 years, and we have a pretty good mix of direct market business along with distributor business. Right now, what we're going to be doing in Europe with our new leadership is really looking at the mix of distributors versus Direct to Market and also where the focus is going to be, on what countries. So Europe is not a common market when it comes to consumers and distribution. And along sprinkled with some distributors in countries like Spain, Italy and the Nordic region. Obviously, the Tottenham Hotspur was a big investment for us the start of last year in really getting our brand awareness in Europe escalated and accelerated. And obviously, Tottenham's been very successful in the EPL last year and this year, are currently in third place in the EPL. So really getting some good use out of that asset. The high whole idea around the Tottemham Hotspur for us was not to sell soccer boots and soccer jerseys as much it is was to use that as a vehicle to tell our story of performance to the European market and the benefits of Under Armour product. Beyond Europe, if you look at the global footprint, we do have some business right now in Asia as we talked about in Japan, our licensee in Japan. We also had started our business in China over the last 12 to 18 months. Still very small, still very much in learning mode and testing mode. We have a handful of doors open right now in China, learning how that market how the market is, how the consumer is in China, what performance means to that consumer. Obviously, getting into Europe, that consumer understands performance very well. We've been talked to about that for years and years. In China, that's not necessarily so. We're seeing much more of a fashion culture there. So maybe that's an entry point for us, is really that niche and focus on performance could be a differentiator for us. So we're learning how the consumer views performance, and we'll obviously get our learnings from talking directly to them on a daily basis in our own stores. Also in Latin America right now, we do have a few distributors. They have been in place for the last couple of years. And probably the biggest change in the global footprint for us was the hiring of Charlie Maurath over the course of the last year. He comes from 23 years of experience at Adidas and the last 8 years running the Latin America market for Adidas. He took that market from EUR 150 million to EUR 1.7 billion EUR 1.5 billion, EUR 1.7 billion over the last
Keywords: Consumer Retail Conference